The Eagles and quarterback Nick Foles reached an agreement on a restructured contract on Friday that awards Super Bowl LII’s most valuable player with a $2 million signing bonus and creates an option year for 2019, NFL sources said.
The NFL Network was first to report the revised deal.
Foles, 29, had only one year left on the two-year, $11 million contract he signed as a backup in March 2017. His base salary for 2018 is $4 million, and he received a $3 million roster bonus last month. It’s unclear how the restructuring will affect Foles’ $7.6 million salary cap number.
The Eagles said they fielded calls to trade Foles this offseason, but their asking price — reportedly at least a first-round pick — was too high for teams. With the future uncertain for injured starter Carson Wentz, it would have taken a lot to pry Foles, who may be the starter initially this season, from the Eagles. This restructured contract makes a trade, however slim before the deal, even more unlikely.
Along with the signing bonus, Foles can earn millions more in incentives if he is the starter or clears other benchmarks this season. The option year is being phrased as “mutual,” per one source, to which both sides would have to agree. The additional year can be insurance in case something else happens to Wentz.
Wentz, who suffered a season-ending knee injury on Dec. 10, said earlier this week that his goal was still to return by Week 1, but he also said there wasn’t a concrete timetable. Foles, of course, stepped into Wentz’s spot and helped lead the Eagles to a championship.